If you’re thinking about selling your house in the 80903 zip code (or anywhere in Colorado, one of the first things you’ll think about is selling price. How much should you sell the house for? But there’s one question you should understand first, and that is: How important is the asking price when selling a house in Colorado Springs Colorado? In this blog post, we’ll answer this question to help equip you when you sell your house…
When you want to sell your house, you set an asking price. Of course, most people know that this is rarely the selling price – so why set an asking price at all? Just how important is the asking price when selling a house in Colorado Springs Colorado?
Well, its’ one of the most critical aspects of the entire process so you should definitely pay attention to what we are about to reveal to you here in this article.
An asking price is actually a very useful “tool” that does 3 things for you.
First, It Attracts Certain Buyers And It Repels Certain Buyers
There are buyers at every price point in the spectrum. A higher price will catch the attention of higher-end buyers (while it repels low-end buyers) and a lower price will attract the attention of lower-price buyers (while it repels high-end buyers).
There’s nothing wrong with this – after all, you don’t want to waste your time trying to sell your house to someone who has no intention of buying. So the right asking price can be used to help the right buyers see your house as a desirable purchase.
Oftentimes, investors are looking for a deal on a house whereas a retail buyer who is going to be approved for financing can make a much higher offer because it’s backed by the bank. When a private company or individual buys a house for cash, they are able to close quickly…so this is the allure of dealing with a company like our own.
Second, It Reveals Information To Prospective Buyers
The price of your house, in comparison to similar houses, will reveal information to potential buyers. For example, if you live in a neighborhood where the average sale price is $100,000, and you’re asking $75,000, what does that say to buyers? It says that your house may need some work or you’re in a hurry to sell. And what if you live in that same neighborhood but ask $125,000? It might say that your house is superior to the other houses because of how you’ve decorated it.
One way you can get an inside view on your sale price is to take a look at the recently sold comps in the area to see what properties are selling for with similar square footage and the same number of bedrooms and baths. If you are able to quickly locate about four or five of these, then you take the average sale price and that will be your market value of your home. As long as the subject property is within 500 square feet of your house and has the same number of beds/baths then it is considered a viable comp.
Call around to local real estate agents to ask them what the comparable homes are selling at to see what price you might be able to list your home at.
Third, It Is The Starting Point Of Negotiations
It’s very rare for a house to sell at exactly the asking price. All home sales are negotiations between the sellers and the buyers (and the agents that might represent them). The asking price simply puts a piece of information out there for negotiations to begin from. As a seller, you might put out the price and then work on getting a higher price while your sellers start with that price but work on getting a lower price.
To get better at negotiating the sale price on your house you must talk with a lot of different people and entertain a lot of different offers. This is why it can be good to simply call or text an investment company like ours to see how much we might offer you for your home, that way you can at least think it over to see if it might be a good fit.
If you want to get a free quote on your home right now then please call or text us directly at (719) 286-0053
So, just how important is the asking price when selling a house in Colorado Springs Colorado?
It’s very important to help a house sell. But it’s not the only way to sell! If you’re not sure what your asking price should be, or if you’d like to skip the sales process altogether, you can get a cash offer from us!
If you are looking for a cash buyer instead of having to wait around and list your home on the market with a real estate agent then please get in touch with us at your earliest convenience for a free quote.
Our team can have a cash offer on your desk in less than 20 minutes once you have given one of our sales reps your property address along with the estimated cost of repairs that will be required to get the home back up to full market value.
We are professional local investors based in Fountain, CO who can close fast without any delays so please fill out the form or click on the live chat window to get started.